VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 24, 2014) - Estrella Gold Corporation (TSX VENTURE:EST) ("Estrella" or the "Company") is pleased to announce that it has arranged a $200,000 by way of a non-brokered private placement (the "Units").
Certain strategic investors, along with the management team, will participate in the financing. The continued support of the current shareholder group is a significant benefit to Estrella in working to achieve its goals.
The financing will consist of 4 million Units at a price of $0.05 per Unit. Each Unit is comprised of one common share and one non-transferable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share for a 36 month period at a price of $0.10 per common share starting from the date of closing.
Estrella currently has 43,650,304 common shares outstanding which will increase to 47,650,304 common shares upon completion of this financing. The core strategic shareholder group continues to hold a significant amount of the shares of Estrella, including insiders and certain individual investors.
About Estrella Gold Corporation (TSX VENTURE:EST)
Estrella is a "Prospect Generator" focused on gold and copper exploration in Latin America. Estrella identifies and acquires new mineral properties, conducts initial, low-cost exploration to define new targets and then seeks joint ventures with other companies to fund more advanced exploration. Estrella currently has one project in joint venture with Cliffs Natural Resources.
Management is focussed on advancing the La Estrella (wholly-owned) and Yanac (50% JV with Cliffs Natural Resources) projects in southern Peru. Management continues to seek a partner for La Estrella to test gold targets on strike and at depth from known mineralization on the property. In addition, Estrella continues to review potential project acquisitions and conduct grassroots generative work in order to build a solid portfolio of gold and copper projects in South America.
The Company is listed on the TSX Venture Exchange (TSX VENTURE:EST). Mr. Jason Weber, BSc, P.Geo, is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, and has reviewed and verified the technical information contained in this news release.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.